Friday, February 28, 2014

Political VelCraft Pumper Article

This page was recently brought to my attention and I was asked to address it.  I've already debunked many of the points made in it, but for the sake of convenience I'll repeat myself as necessary in this post.  The article's text is regular black, the pumper's text is in red, and my comments are in bold black.




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U.S. Congressman Bennie Thompson: “Don’t Buy Iraqi Currency” ~ Contrary To U.S. Executive Order 13303 & Iraq Coalition Provisional Authority Order 39. Hmmm?

http://politicalvelcraft.org/2014/02/04/u-s-congressman-bennie-thompson-dont-buy-iraqi-currency-contrary-to-u-s-executive-order-13303-iraq-coalition-provisional-authority-order-39-hmmm/

U.S. Rep. Bennie Thompson

The state’s 2nd District congressman released a statement Monday saying his office had received numerous complaints from constituents who had purchased Iraqi dinars and couldn’t use them or exchange them for other legal tender.

He directed anyone who has purchased Iraqi dinars to contact the U.S. Commodity Futures Trading Commission to file a complaint or issue a tip at 1-866-366-2382 .
The dinar is not traded on any legitimate foreign exchange and is worth a fraction of a dollar.

A federal grand jury last money indicted three men from the Toledo, Ohio, area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency and two nonexistent hedge funds.

Investors lost about $23.8 million from dinar sales, according to the indictment.
So explain how fraud is correlated to Executive Order 13303 & Iraq’s Coalition Provisional Authority Order 39. Both Laws were originated in 2003-4 by The United States & Iraq authorities and promoted to allow and encourage Americans to own the IQD in support of the war efforts and to build wealth when Iraq got back on their feet.

This is addressed in the DOJ's dinar fraud indictment of Brad Huebner and Rudolph Coenen.  They claimed that EO13303 gives us the right to own dinar, and yet there is nothing in that order that refers to the dinar or any other currency.  It's an executive order protecting the development fund for Iraq.  The argument here isn't with loppers or anti-gurus.  It's with the DOJ. 

http://www.justice.gov/usao/ohn/programs/vw/Huebner/Huebner_Indictment.pdf (page 5)

The above article talks about a U.S. congressman advising his constituents not to buy dinar. Although that issue is somewhat ignored I'll comment on it. For several years I have heard repeatedly from gurus that most politicians own dinar, and yet not one name has ever been offered as evidence to support that claim. Well now we have a congressman who apparently doesn't own it and doesn't want to see poor people in his home state of Mississippi throwing their money away on this scam.  Let's see the opposition produce an article naming a congressman who says he's keen on the dinar.  Not gonna happen. 




Back in 2004, President George W. Bush put a law into effect allowing anyone to invest in the Iraqi currency, known as Dinars. When the US went to war with Iraq, the Iraqi Dinar, their currency was taken off the World Monetary Exchange until their sovereignty would be given back to the Iraqi’s.

What is it that allows American citizens to invest in Iraq?
Presidential Order 13303: Allows US Citizens to invest in the new Iraq. Under E.O. 13303 COUPLED WITH The Coalition Provisional Authority Order 39, a US Citizen has the same rights to investments as an Iraqi citizen.
  1. Executive Order 13303
  2. CPA 39
CPA 39: Foreign Investment Also Known As The Bremer Order.
The order on foreign investment in Iraq includes five elements: (1) Privatization of state-owned enterprises; (2) 100 percent foreign ownership of businesses in all sectors except oil and mineral extraction, banks, and insurance companies (the latter two are addressed in a separate order); (3) “national treatment” of foreign firms; (4) unrestricted, tax-flee remittance of all funds associated with the investment, including, but not limited to, profits; and (5) forty-year ownership licenses which have the option of being renewed.
Search through CPA order #39 and you won't find the words "dinar" or "currency" anywhere in it.  Again, neither EO13303 or CPA 39 have anything to do with speculators buying dinar.


The U.S. Government is the Largest Holder of Iraqi Dinar Outside of Iraq
The U.S. Treasury does not officially list the Iraqi dinar as part of the country’s forex reserves. Exactly how many dinars were traded is not mentioned, but it does make reference to “billions of U.S. dollars” traded to Iraq.
Experts speculate the U.S. government received nearly 4 trillion Iraqi dinars at an exchange rate of 4,000 dinar to 1 USD. If this is even close to true — and the UN allows Iraq to revalue their currency up to 1 USD: one Iraqi dinar — the U.S. government would stand to profit in trillions… as would anyone else who speculated on the dinar over the years. (1)

This is also addressed in the indictment.  The US Treasury does not hold any dinar for investment purposes, and only has enough dinar to handle daily transactions.   These unnamed "experts" need to consult the DOJ.  The link they provide is to an opinion piece written by a guy who promotes gold mining stocks, not to an official government document or a respected financial publication like the Wall Street Journal, Investor's Business Daily, or Forbes.



Remember Iraq does NOT have to pump its oil out of the ground to receive “present day” wealth for it. They can simply leave the oil in the ground and write promissory notes aka; ‘derivatives’ against the un-pumped asset. Like The U.S., they need only to crank up the digital fractional printing press which is irrespective of the physical ‘supply’ M0 of the IQD.
Monkey feathers!  No pegged currency in the world backs their currency that way.  Derivatives are contracts for business transactions, they're not a means of providing value for currencies.  Iraq backs their currency like every other oil based economy in that region backs theirs - with their foreign currency reserves.





Remember The Bush Administrations Statement About “the war will pay for itself”? It came from Paul Wolfowitz.
“There is a lot of money to pay for this that doesn’t have to be US taxpayer money and it starts with the assets of the Iraqi people. We are talking about a country that can really finance its own reconstruction and relatively soon.”
Paul Wolfowitz
Deputy Secretary of Defense
testifying before the defense subcommittee
of the House Appropriations Committee
March 27, 2003

It's humorous to me that they make this claim about what Bush said, and then offer a quote from Wolfowitz that says nothing of the kind.  Wolfowitz didn't say that the war would pay for itself.  He was referring to the cost of reconstruction which is estimated at $60 billion, not the cost of the entire war which is closer to $1 trillion.  Read through these quotes from Richard Perle, Ari Fleischer, Donald Rumsfeld, and Wolfowitz and you'll see that all of them are referring to the former, not the latter.  

http://www.thenation.com/article/experts-speak-iraq 


The fact is Iraq is already contributing to the cost of reconstruction to the tune of about $5 billion a year, without this mythical revaluation. 

http://www.foreign.senate.gov/hearings/hearing/?id=a421f9a1-5056-a032-52ae-3e2b956077c2 (start watching the video at about 1:32:00 in). 





Iraq announced that they removed 70% of the money supply.
During 2008 Oil Windfall To Iraq.
The central bank’s aggressive policies spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. This is the main lever for controlling consumer prices, said Kasim…
By STEPHEN FARRELL and RICHARD A. OPPEL Jr. Published: June 21, 2008 Page 3
http://www.nytimes.com/2008/06/21/world/middleeast/21security.html?hp
Pravda ~ Is The United States Prepared?: While Iraq Buys Back Currency Off The Streets & Retires It ~ The FED Is Smothering America In Newly Printed Funny Money!

This is another common misconception/lie told to dinar investors.  Conspiracy nut websites aside, the auctions don't reduce the money supply as the financials on the CBI website clearly show a growing money supply.  If they were reducing the money supply the financials would indicate that instead.  The auctions are simply a mechanism to control inflation and maintain exchange rate stability inside of Iraq.  Because Iraq uses US dollars as well as dinars, the CBI needs to keep a proper balance between the two.  If there are too many dinars in circulation they pull some out to strenthen the value, and if there's too many dollars they pull some of them out. 

As for the 70% reduction in the money supply, that is taken from a misinterpretation of an article in 2010 that said that Iraq had reduced excess liquidity by 70%, and excess liquidity has nothing to do with the money supply.  It's the amount held by banks beyond which they are required to hold.  Iraq moved that money out of the banks and into various projects to stimulate the non-oil sectors of their economy.





Jim Cramer’s Perspective On Iraq’s Dinar In 2009


Anybody who thinks Jim Cramer is a guy to take investment advice from should have their head examined.  This is a guy who was saying to buy AOL right before the dotcom bubble burst in 2000.  Cramer is an entertainer first and foremost.  He is to investing what Liberace was to classical piano.  That said, let's remember that this video was done in 2009 before the investment world started paying attention to the dinar scam. 

http://www.dailyfinance.com/2009/03/16/defending-jim-cramer-dont-take-entertainers-too-seriously/





As for Hillary, she said nothing about the dinar.  Sure, Iraq's GDP growth is impressive, and why shouldn't it be?  They're rebounding from decades of war and tyranny, and their oil production (which represents 90% or more of their GDP) has never been better.  But any assumption that a growing economy automatically produces an increase in the currency's value is wrongheaded.  More often than not the opposite is true.  In Iraq's case their policy is to maintain stability in the exchange rate, so whether their economy grows at 1%, 5%, or 10% they'll probably still have a currency worth about $.00086 until they replace it.

Yesterday The United Nation’s Security Council Made This Very Important Statement!

The United Nation’s Council would welcome in the draft resolution’s preambular part aka; [PREPARATORY STATEMENT] both Iraq and Kuwait’s efforts to advance regional stability, and “all the positive steps that have been taken by the Government of Iraq to fulfill resolution 833 of 1993″ related to the border between the two neighbouring countries.

Iraq IQD 5000 Dinar

THE MOST TANGIBLE WRITTEN STATEMENT THAT THE IMPORTANCE OF THE IQD TO BE RESTORED TO PRE 1990 INTERNATIONAL STANDING, TO DATE, HAS BEEN MADE BY THE UNITED NATION’S SECURITY COUNCIL ON JUNE 26, 2013.

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The United Nation’s Security Council would recognize that the situation existing now in Iraq is “significantly different” from when the Saddam regime invaded Kuwait in August 1990, and the “importance of Iraq achieving international standing EQUAL” to that which it held prior to that date. Then The IQD Was $3.22 to $1 USD.

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Most hit & run sites on the Internet claim Iraqi Dinar scams are made by boasting the exact same thing THAT The United Nation’s Security Council just stated above about how important it is to Iraq In ACHIEVING [Pre 1990 International Standing].
EXAMPLE 1:
In their attempt to discredit the Dinars ~ they state that The IQDs are sold on misleading hype.
A) They state;
Many dinar dealers refer to the value of the Iraqi dinar prior to the 1990 Kuwaiti invasion (1 dinar = $3+ US Dollars) as evidence that the potential for the dinar is theoretically unlimited.
The United Nations Security Council Just Said The Exact Same Thing Above!!
B) They state;
They don’t mention that the pre-1990 dinar has been demonetized (worthless) and that its value was arbitrarily set by an autocratic regime led by Saddam Hussein.
This is an incoherent ad hoc statement towards Pre 1990 International Standing. The Dinar became worthless due to war , due to being attacked by The U.S. Nothing else in the financial world can change the fact that Pre 1990 IQD was $3.22 PERIOD!
C) They state;
Following the embargo, the ability for the Iraqi government to manage its currency’s value collapsed and it spent the next 10 years at 2,000 – 3, 500 dinars to the U.S. Dollar.
Again another unlink-able incoherent ad hoc statement towards Pre 1990 International Standing. The Dinar became worthless due to war , due to being attacked by The U.S. Nothing else in the financial world can change the fact that Pre 1990 IQD was $3.22 to $1 USD PERIOD!
These [ Dump Sites/ Hit & Run Sites ] are unbelievably incoherent! Especially, when they try to discredit common knowledge about Iraq’s Return to Pre-1990 Dinars as Hype! Nothing could be a truer statement by a dealer than to state ‘EQUAL’ to Pre-1990 and when supported by The United Nation’s Security Council’s statement that this is the goal when then affirmed again within the “draft resolution’s preambular part”.
Tell the Anti-Dinar Scam Propagandists to think first.
Mint
Timing and upon what for IQD release? Stay Tuned!


No link was provided, and I couldn't find the UNSC quote above.  The closeset that I could come was this statement from 2010.  Nowhere in the statement is a $3.22 rate mentioned so I would assume that the pumper took some liberties with the truth in their post.  Shocking, huh?  The UNSC was just saying that Iraq is no longer run by a dangerous maniac hell-bent on aggression, obtaining WMD, and destabilizing the region.  They are a new country and are making an effort to rejoin the civilized world, and should be welcomed as such rather than subject to ongoing sanctions.  That in no way suggests a 300,000+% revaluation of their currency.

The dinar wasn't "devalued" by war.  Devaluation is done by a nation's central bank as a monetary policy, just like revaluations are.  The dinar's value declined from depreciation due to Saddam's reckless leadership in the 1980's war with Iran and the 1990 invasion of Kuwait which led to Desert Storm and the subsequent sanctions.  This isn't just my opinion.  This was stated by (then) CBI governor Shabibi when he spoke in Washington in 2011, and is supported by the historical account found on the CBI's website which states that the exchange rate was 3000 dinar to the US dollar in 1995.  The circumstances that led to its decline really aren't the issue, however.  Once a currency's value has depreciated there is only one way to restore it without destroying the economy - redenomination!  That's why Shabibi and the CBI have been informing the world of their intent to replace the IQD ever since they got inflation under control in 2008. 

Yes, the value of the old Saddam dinar was $3.22 some 30 years ago, but then 30 years ago the US dollar had more purchasing power as well.  That was then, and this is now.  The IQD has never been worth as much as 1/10 of a penny, and nothing else in the financial world can change that fact.

























Wednesday, February 26, 2014

Questions for Adam's Update

Last week I posted FS4enthusiast's answers to the questions submitted to Adam Monana at Dinar Vets.  I thought it was such a good idea I decided to give it a shot this week.  If I were "Adam" this is how I might answer this week's questions.


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What's up Adam...Just to get your insight on a questioned asked of me, while tryin' to explain the situation in Iraq, concerning the value of the dinar...What is the main reason(s) the CBI is waitin' on to make their move to RV/RI the dinar in correlation to the HCL issues...and if it's not just the HCL what's your take on the issues involved...

The HCL has nothing to do with revaluation.  The CBI raised the value a total of 26% from 11-1-2006 to 1-1-2009 without it, and they only did that because they had to in order to bring the inflation rate down.  The CBI has never said they're going to RV/RI.  That's what the gurus are saying.  The CBI said that they're going to RD (lop).  They've also told us what the holdup is.  They're waiting for things to stabilize somewhat in Iraq because they need security forces in place to ensure a smooth currency changeover. 




Adam, it is possible that Maliki will be reelected as P.M. It's been said that he has a "weak dinar" policy...desiring (for whatever reasons) to keep the dinar at it's current low value. If Maliki is reelected, do you think this will delay the RV?

There's no RV to delay.  See my last answer.




Thanks Adam for all you. My question is what is your Intel is telling you about RV sometime this year? The reason I ask is because we are seeing the same thing regarding Iraq year after year and no RV. Patience can only go so far but after 10 plus years and still do not see any light at the end of the tunnel is getting very frustrating.

I have no intel.  All that stuff about having a CBI contact was just a ruse to sign people like you into my VIP program.  Thanks a lot, by the way.            




Adam. When you bought your first dinar were you thinking they would increase to the point you could get out a little ahead.......or...... did you think the dinar would open for a dollar or more? Or less?  My "influencer" into the world of the dinar was convenced it would open for at least a dollar but hoped it might reopen for what it closed at before bankruptcy was declared.

I had no idea what would happen, to be honest.  I knew nothing about currency speculation and still don't.  (Isn't it obvious?  I can't even do basic math!)  I just figured I'd give it a shot, and then when I saw how many people were buying dinar I figured I'd probably make more money off of them than I would with the dinar so I started DV.  By the way, there was no "bankruptcy" (Chapter 7 refers to the UN sanctions) and the dinar hasn't been worth more than a tenth of a penny in about 20 years.




Hey Adam, You made the comment a couple of times that the dinar we are holding has increased from the time we purchased it.nnI have been in this for 5 years and at that time the value of the dinar was .00085. Where is the appreciation. I paid roughly $1000 for a million dinar.  What is keeping the kurds from settling up with Bagdad and getting the HCL completed and getting this RV completed?? News articles have stated how countries, businesses want to enter Iraq and start business relations. Are these people to "blind" to see the desert through the trees?

I say lots of things.  LOL!!!  Doesn't mean they're true.  Like I said earlier it did go up in value from 2006-2009, but if you bought after that you're in the hole and will probably lose money.  As for the Kurds, they don't trust the Shias and Maliki is a Shia.  They also don't trust the Sunnis and Saddam was a Sunni.  And the Sunnis don't trust the Shia and vice versa.  See how this works?  They don't trust each other and they don't know how to build a modern, thriving, capitalist society and it will probably be another 20 years or so before they figure it out ... if ever!  Meanwhile you're holding their currency thinking that somebody is gonna push the Easy button and fix everything and make you rich.  And if somebody tells you it ain't gonna happen you call them a dumper or anti-guru or troll.  Gotta love it!





Adam: With currencies in Turkey, Greece, EU in general, Argentina, South Africa losing their value and hyper inflation taking place, and now Ukraine going through Bank runs and civil unrest (brink of war) , home sales plunging 14% to 18 month low, China economy showing signs of collapse. The Fed, IMF and other controlling interest throughout the world are propping up countries with temporary loans. The "stimulus from the Federal Reserve" reversing course on the amount of money they "Place" in the stock market monthly which is one cause of the currency crashes which withdraws support for foreign countries. Talk has been discussed of a Global Reset on all currencies. I assume this would mean "all" currencies . What view would these factors have on your thinking the IQD would be involved at the same occurrence as mentioned earlier or would the IQD be independent of the imploding countries? 

The Global Reset is a bunch of hooey.  The only ones talking about it are conspiracy nuts and dinar gurus.  The only currency that affects the IQD is the USD because it's pegged to the dollar and backed by the dollar.  And as long as people buy gas and oil Iraq is going to keep pumping it and selling it for dollars. 




Whats your say on the LOP, do you believe them or is it just smoke?

You're banned.  MODS!!!




Adam, are there any exactly specific steps to be made by either the CBI or the MOF or the GOI that we should be looking for that will tell us that progress is being made toward IQD International Tradability at a new rate?

The only steps toward making the dinar internationally tradeable would be building a diverse economy and producing products that have international demand which would then generate a demand for their currency.  There's no easy button for that, either.  It will take decades.




It appears that Maliki is trying to pressure the Kurds to pass the budget in exchange for him to have a third term as PM. Do you think this is likely? If it IS, I think we are in BIG trouble!

It doesn't matter who Iraq's leader is, just like it doesn't matter who is running the CBI.  They're not going to RV and make you rich.




Adam.....can you explain the difference between USD & UST, and how will that effect our speculation?

The USD is the US dollar, and the UST is the US Treasury that prints the dollar, and neither has anything to do with dinar speculation other than the fact that the dinar is backed by the USD.  It's all about economics and math.  You can't back 85 trillion dinar with $80 billion USD and RV more to more than 1/10 of a penny.




Would we see the Budget and HCL approval announced in the gazette? How about the RV?         

The budget?  Maybe, maybe not.  HCL?  Probably.  RV?  What RV?  Again, see answer #1.



The weekly Adam Montana Thank-A-Thon may now commence.





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And now for my question of the week to Adam. 

In your book Real RV Intel you stated that you "invested in the Kuwaiti dinar at the right time" which presumably was during Saddam's occupation of Kuwait from August 1990 - February 1991.  And in your interview with the ladies from the Earth Secrets blogtalk show in February 2011 you said "I had some money in the Kuwaiti dinar and I was able to buy that at the right time and made some money on that".  Now since you couldn't buy Kuwaiti dinar on forex or through any bank while they were under occupation, and seeing as how you were born in 1976 I would very much like to know how you managed to get your 14 year old self over to the Middle East to conduct a little currency speculation on the Kuwaiti dinar during Desert Storm?




P.S.  There's a battle currently raging between TNT Tony and three guys - the owner of Baghdad Invest, Mr. IQD, and a guy named Mike Diston whom Tony has been harrassing via his followers.  I've stayed out of it so far as I'm more about informing than pounding the pavement.  But I think it would be good to lend them our support as they hold this scammer accountable. 

http://mriqd.com/2014/02/25/campaign-to-squish-mriqd-baghdad-invest/

http://www.baghdadinvest.com/iraqi-dinar-twitter/






 



Friday, February 21, 2014

Exogen Post and Response

The recent BBC Trending story on TNT Tony's Twitter campaign produced quite a reaction from various gurus.  As you might expect there were accusations that the BBC is a bunch of hacks, the story was put out there by the PTB, they were wrong to call the dinar a scam, there's no way the dinar will go down in value .... etc.  But the one response that I felt most compelled to address was that of a Tony lackey named Exogen.  This is one of the most poorly constructed and logically flawed rebuttals I've encountered in all my years of dinardom.  Below you'll find XO's words in red and my responses in bold black.




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It appears that a BBC article written by Cordelia Hebblethwai is an attempt by the owners of the Cental Banks, who have historically privatized the currencies in all but three countries of the world, to discredit Tony and to use their ownership of the drive by media to try to tell the public not to buy any dinar and to reject the tweets sent out by dinarians through #wearethepeople that have been posted to make the bankers and administration accountable to the people. Tony has been an open book to all his listeners. We all know about his criminal charges pending, as he has discussed this several times. He has not been tried, and we are to presume he is innocent until proven guilty. Of course, if he were taking any money from you, then you should be concerned, but he is not. If Tony was telling you to go out and buy dinar or dong and getting a "commission" from the currency dealers, then you should ignore and shun him, but he is not doing that.
First of all, her name is Cordelia Hebblethwaite.  It's only fitting that Exogen got the facts wrong in the first sentence, because it sets the tone for the rest of this rubbish.  If the central banks were concerned about people buying dinar why would they need to turn to a BBC Trending reporter to do something about it?  I mean if these powerfaul gazillionaires wanted to stop dinarians from buying up any more of this precious paper they could just shut down the dinar dealers, right?  And no, Tony has not been an open book.  Was he telling people about his criminal background and his current legal problems before this blog and a few others started providing links and informing the dinar public about these matters last year?  I think not.  He was forced to discuss this stuff because people were asking questions.  That's not transparency, XO.  That's douchebaggery. 
If one analyzes the stories over the years spoken to the public by the reporters of the drive by media, there is evidence that people behind the scenes are intentionally feeding the reporters with lies upn lies to cover up their elitist agenda for world-wide control to dumb down the people. Why doesn't Ms Heblethwai report about the lies fed by the owners of the drive by media? The real owners behind the banks, those managing the unregulated Federal Reserve, for example, pay people to lie and to post and report lies to the public.
  
The dumbing down has been done by these dinar douchebags who have completely hoodwinked inexperienced currency speculators into believing that a currency can be revalued to such a great extent that millionaires will be created as a result.  Anybody with a grade school math proficiency should be able to discover otherwise once they have all the facts.  And the reason Ms. Hebblethwaite doesn't report on the media owners is simple.  She writes for BBC Trending.  Her job is to see what the hot topics are in the world of social media.  TNT Tony's hair-brained Twitter campaign caught her attention because of the (mostly fake) numbers that were being generated, and she did her job and reported on it.  Anybody void of a tinfoil hat should be able to see that.

People should listen to whistleblower karen Hudes, previous chief counsel for the World Bank, who calls those hidden people behind the scenes that own the Central banks to be criminals and thugs. The first Central Bank that was turned over by a government to private people was the UK. There is a lot of things hidden, and most of those in the world have been asleep, and I think that whistleblowers like Karen Hudes are the people Ms. Hebblethwai should be interviewing. There is a Collateral Account, which has art treasures, precious metal, precious stones, etc. She says there are 175,500 tons of gold on deposit in the Bank of Hawaii to back up or underpin the currency that the UST should cause to be issue in the Global Currency Reset to fulfill the IMF requirement to have an asset-backed currency.
Karen Hudes is just another rambling, delusional nutjob who caters her message to the conspiracy nuts of the world. Watch these videos (especially #2) to hear her talk about the Jesuits, the cabal, Michelle Obama's honey trap, a thwarted nuclear attack on South Carolina, and the aforementioned massive stash of gold in Hawaii.  No wonder the World Bank showed her the door.  (Read more about Karen Hudes here.)  Also, there is no such thing as a GCR and the IMF has made no such requirement.

I think it is interesting that Cordelia Hebblethwai didn't note that the dealers, such as CXI or DinarTrade are registered with the US Treasury - if this is such a problem, why don't they shut the dealers down? Why is the UST's largest inventory of foreign currency the Dinar? Is Tony making a "commission" on every Dinar or Dong sold? No! Does Tony get paid by advertisers? No! Is Tony selling your names? No! Does he have a right to state his OPINION about the Global Currency Reset? Yes, every car salesman has a right to give his opinion as to the condition of a used car, don't they? Yet, when you buy a used car, you buy it "AS IS". One of the elements of being guilty of a "SCAM" is that you profit from the misrepresentation. Tony has made it clear that he gets "NOTHING" from being a guru! In fact, his site is is one of the few who does it free without charge. As long as there is no commission paid to Tony by the "dinar dealers" and those "encouraging" people to buy them, then thistony's broadcasts are all 100% legal. In TNT Tony's case, there is nothing I have heard that would suggest he is operating outside the law.
Registering with the US Treasury doesn't make you any more legit than registering for wedding gifts.  All it means is that you have provided your contact information so that the government can keep track of currency transactions as part of their money laundering and anti-terrorist efforts.  As the BBC Trending article states, everything the dealers and gurus are doing is 100% legal unless a money trail between the two is detected.  That doesn't make it right, but that's the world we live in.  The UST's largest inventory of foreign currency is not the dinar, XO.  In fact the UST has stated that they only hold a nominal amount for daily transactions (page 5).  The largest are the yen and the euro.

http://www.treasury.gov/resource-center/data-chart-center/IR-Position/Pages/01312014.aspx

The innacurate part in the Article is Tony does not encourage anyone to buy any currency. I have listened to Tony for a year now, and I can say that Tony repeatedly says, "Now do not go out and buy any dinar or dong by what is said today!" In fact, he said it in his conference call on 02-14-2014.

Maybe Tony has never said "Go buy some dinar" in so many words, but when he's constantly talking about the RV or GCR that's going to happen any day now and saying that everything is done and that we're just waiting for the 800 numbers to cash in .... anybody with any sense knows that people who are new to the dinar are going to quickly place an order so they won't be left out.  No lame disclaimer is going to change that fact.


Finally, the article did not say that if a purchaser of the dinar has a right to go back to the currency dealer and sell it back to them. Why did she not bring up this fact? This would be a fair statement to make, but she did not say it. She is not being a well-balanced reporter. How can it be a SCAM if you lose no money or very little money. Where's the risk? It is like drinking alcohol. Drinking alcohol is legal, but if you drive under the influence then that is a crime. If you want to buy dinar or dong with the chance of earning money, then that is your choice. If you get tired of waiting, you re-sell your currency back to the dealer. You wake up with a hangover, but you will get over it in a day or so. People have hangovers all the time, but they still go out and drink. People buy lottery tickets everyday, and the chances of winning is probably 50 million to one. How much money is lost each year on gambling, but it is not illegal to gamble. This is not an investment where you gave Tony your money to invest for you. You hold your own asset in your own possession. Why did Ms. Hebblethwai compare this to an investment fraud. It does not have the same elements at all. Her article was not only unprofessional but also totally misleading. She is comparing apples with oranges.

It's a scam if everything you're told to entice you to buy it is a lie.  It's a scam if you're told that deleting three zeros means removing the denominations with three zeros from circulation so that they can increase the value by 100,000% and you're not told that the largest revaluation in history was 35%, and that deleting or removing zeros has always referred to a revenue neutral redenomination.  It's a scam if you're told that they're planning on raising the value and you're not told that the CBI's policy is to maintain a stable exchange rate.  It's a scam if people buy because they were told about a mythical RV or GCR that has no basis in fact.  It's a scam if people aren't informed about the risk of illiquidity.  Actually this is very similar to other investment scams based on misleading hype and exploitation of inexperienced and naive investors.  As for the lottery, every lottery commission informs the public as to the odds of winning the jackpot.  They don't tell people that they have a winning lottery ticket or that it's a blessing from God like the dinar douchebags do. 


A truly Professional Journalist interviews and reveals names where she is getting her information. We should ask Ms. Hebblewai questions. Every journalist is taught in college the basic in news reporting.

Since when?  Journalists have always cited anonymous sources.  Remember Deep Throat?  The source behind the Watergate story?  His identity wasn't revealed for over 30 years.  I doubt that these economists requested to remain anonymous, however.  She probably just didn't name them all for the sake of brevity.


WHO are the economists that Ms Hebblethwai talked to? It could be some desk jockey. It could be someone who wants everyone to buy gold, and the buying of the dinar takes away his clients. Who are these so called experts you interviewed?

Well one of them was John Jagerson, an acclaimed currency and investment expert whom I've interviewed a couple of times.  Given that he was one of them I'd assume that the economists from Harvard and the London School of Economics were similarly qualified to assess the dinar scam.

WHAT is the IMF leader, Christine LaGard, utting out to the economic world when she frequently uses the phrase, "Global Currency Reset?" [This reporter said that Global Currency Reset is not a word used in the industy- Hello! The head of IMF uses it].

You tell me?  She's certainly not talking about the GCR that dinar gurus and conspiracy nuts are talking about.  I couldn't find anywhere that CL used that expression.  The only link any of the GCR crowd could provide to support this claim was where she used the word "reset" at the recent economic forum.  In that case she was talking about Quantitative Easing concerns. 

“My last R is “reset”. We are seeing as necessary going forward, a reset in the area of monetary policies. We believe that quantitative easing and the accommodating monetary policies that have been adopted so far should be continued up until such point where growth is well anchored in those economies, and this is not yet the case everywhere. Reset in the sense that once it is well anchored, then those accommodating monetary policies have to be reformulated ... have to move either back into their old territories or be more traditional ... or be maybe of a different kind, and I am sure central bankers around here will be able to comment on that. But that’s first reset.”

http://www.weforum.org/sessions/summary/global-economic-outlook-2014

Nothing is said about a currency reset or changing the way that currency values are determined.  If you can read you can see here that CL is talking about eventually ending the current monetary policies being used to address the problems arising from the financial meltdown of 2008, and returning to the more traditional policies that were in use prior to the crisis.  

WHEN is the reset to take place? [Neither Tony nor anyone else has a handle of this. Everyone says Jesus is coming soon. Does it mean He is not returning? Nobody knows when! How many times has Tony been fed lies by the agents of the PTB?]

So now you're comparing the GCR to the second coming of Christ?  And was it the PTB that caused Tony's previous fraud indictments?

https://services.saccourt.ca.gov/indexsearchnew/PersonList.aspx?SearchValues=renfrow,anthony,,0,False,,,

WHERE does Ms. Hebblethwai get her facts that 65% of the Tweeter are being fake? Is she saying that those who are tweeting not real because some people do not use their own names? How does she come up with that statistic? How many people has she interviewed? Did she email or tweet herself and make an inquiry or request for people to contract her? She will find out that we are united in our stand, and we will not fall for her lack of failing to use standard practices of investigating reporting. Ms. Hebblethwai reads more like an "OPINION" comment than a news report that has been thoroughly investigated.
You can take what Tony is saying and use it, or you can listen to any other guru, or do not listen to anybody. Do your own research. By the way, I am not getting paid for using my analytical skills for sending out statements like this either. I am merely trying to be helpful. Everyone of you can go sell your currency back to the dealer where you bought it at the current rate of exchange, minue a fee, any time you want. On the other hand, you can wait and see what happens next week.

I couldn't agree more.  Do your own research.  That's what I did and that's how I know that Tony is a scammer and the RV is a scam.
Like me, you are probably frustrated. In the King James version, Daniel 7:25 says, "And he shall speak great words against the Most High, and shall wear out the saints of the Most High. . . ." The Hebrew word for "wear out" is "bela" from the root word "balah", which mean"to inflict, consume, become old, spend, or waste." Who do these very, very wealthy people behind the scenes represent? What is their agenda? Is it to free up the middle class with great wealth? No! They are trying to wear you out. I think Tony is doing his best to combat them. He needs our prayers.

I agree that Tony needs our prayers.  "... pray for them which despitefully use you ..." (Mat. 5:44)





Wednesday, February 19, 2014

FS4enthusiast Answers Adam Montana's Weekly Questions

On Tuesday somebody called FS4enthusiast decided to answer Adam Montana's weekly questions for him.  What a great idea!  I might start doing this myself.  Unfortunately FS4 was promptly banned from DV, but he is always welcome here at DDB. 

FS4's comments are in red.
******************************************************************

I thought I'd help out by answering some of the weekly questions myself.


Quote
After crunching the Currency Auction Data, I come to the realization that Iraq is running on USD rather than IQD.
You're only looking at one side of the equation. Dinar are taken in via the auctions, and then put right back into circulation by the GOI buying them from the CBI and using them to pay salaries, local contracts, etc. There have been numerous people, even hardcore RVers, that have been in Iraq and say there are plenty of dinar on the streets. Anyone that tells you that there aren't is probably just lying, or at least is just repeating guru lies.

Quote
What's up with Warka?
I've yet to see anyone even make the claim that they've managed to get a single dollar back out of them, so I'm guessing they're still jacked up. Will that change for the better soon? Who knows.

Quote
I keep lookin' for some intel on the smaller denomination dinars and or coins that in my opinion must be implemented before a RV/RI...All I've heard was the gold coinage minting for dinar exchange only, my question, have you heard any documentation confirming that smaller dinars have been printed?  * See comments at the bottom
You need small denoms for an RD also, so not sure why you think this would be RV related.

Quote
Good Morning Adam,these items that Iraqs parliament are dealing with seem like ticky tacky items that could be dealt with at any time.what do you think is the REAL reason they don't push the RV button?Thanks Brother
Because they can't and there's no reason they could. Their currency is worth right about what it should be, which is painfully obvious once you admit to yourself the fact that they have many many trillions of dinar in circulation.


Quote
Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi's will never stop using the dollar as long as it's more valuable than the dinar
You're really mixed up. It isn't VALUE that makes a currency desirable (after all, their 25,000 note is already more valuable than our 20 dollar bill, so why would they want to use a 20 dollar bill?), it's STABILITY and CONFIDENCE that make a currency desirable. Massive increases in value don't lend confidence that the commodity or security is going to remain stable. If you had 10 ounces of gold and the price shot up to 1 million an ounce would you hold onto all of it because you're confident it will retain that value? HELL NO. You're gonna sell all of it the second you can because you'll be worried it's an unsustainable fluke and you'd lose your newfound million bucks if you held onto the gold.

Quote
WHAT DO YOU THINK OF THE DONG PAID 21,800 NOW IT;S 21,114?
I'd say that a massive RV of the dong makes even less sense than the Dinar, but it's impossible to make less sense than zero, so I'll just say both make zero sense.

Quote
MUST the budget be passed 45 days before the elections on April 30th? This would mean the budget would be passed by March 15th.
Who cares?
******************************************************************
Good job, FS4! 

* One thing I'd like to add to this is that "Adam" told everybody in 2010 that the lower denominations had already been printed, according to his CBI source. 

He never said much about this after the Iraqis started talking about printing the new currency with the Kurdish language on it.  I think now would be an excellent time to remind everybody that James "Adam Montana" Wolf is a fraud.  He claimed that he graduated from Harvard when in fact he didn't even graduate from high school.  He claimed to have made money on the "Kuwaiti RV" when in fact he was 14 years old during Desert Storm. 
http://dinardouchebags.blogspot.com/2012/05/montana-trail-part-4.html
For those of you who are unfamiliar with the custom, the comments following Adam's weekly Q & A posts are basically nothing but arse-kissing.  So I think we should do that here.  I'll start this one off.



Monday, February 17, 2014

JRG's Rebuttal of TLAR

As I stated before, the readers of my blog are the smartest people in the dinar world.  This rebuttal by jrg is the latest example of that.  Just one little clarification.  Some of the paragraphs were actually written by somebody called Ponee (or somebody that Ponee took it from).  The rest is TLAR's response.  Enjoy!

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97384280



*******************************************************************   


I guess I just can’t help myself.  When I see something so stupid being heralded as making sense, I just have to respond.  Here is a post circulating on various Dinar pumper sites apparently written by someone calling himself or herself TLAR.  (e.g.
http://dinarvets.com/forums/index.php?/topic/172523-an-interesting-perspective/ )

With the dinar believer comments about how interesting it is and how it is such a good analysis I felt a need to show just how idiotic it really is.  Rarely have I seen such a concentration of manure.  My comments are in red.
   -jrg 2/17/2014
(Ponee?)
I have been operating on the belief that the PTB are interested in an RV, or at least a drastic increase in value of the currency, and stand to make a lot of money when it does. I no longer believe that to be true.

It looks to me like the PTB are happy to let it go along at its present rate. Consider that Maliki, who favors a weak policy, has managed to stay in office as long as he has, and appears likely to stay in power longer. Consider that, in spite my assumption that the Iraqi money supply has been reduced, it has not.
The speculation and opinion about what people think or want is irrelevant.  The fact that Iraq’s money supply has steadily increased, yes that is clear.

(I just spent some time on the CBI website, where it states that the Current M1 is 71 trillion dinar, and the M2 is 86 trillion, I believe it said). Unless the CBI is lying, the money supply is increasing- not decreasing.
Again correct, he starts off so good, but it won’t last.

(TLAR's Response)
First let me explain that what is important to us is the currency that is circulating in Iraq only. Bank accounts, loans and even the new smart card are not important to our investment.
This will become increasingly obvious nonsense as this tale progresses, but suffice it to say that all dinars must be treated in the same way.  Whether cash or checking accounts or bonds, it’s all dinars.

Saleh the deputy governor of the CBI stated there was 30 trillion dinars altogether released from the CBI since 2003 through Jan 2012 of which four trillion were circulating in Iraq.
I don’t recall this and of course no link is provided.  I have no idea what proportion of M0 is actually involved in cash flow (a lot is digital so that wold be part of M1), nor does it matter.

At the end of 2013 Dec the CBI reports that there is 35 trillion dinars. This number is stated in dinars on their website because it is the national currency. It encompasses all dinars ever released including dinars held by investors’ worldwide and including dinar held in central banks around the world.
Yes M0 is 35T.  No there is no evidence that any central bank outside of Iraq holds dinars (the FBI has testified in court that the Fed nor UST has anything other than enough IQD for the tiny exchanges done by travelers).  If they did, and it was physical cash, this would also be part of M0.  If it was digital it would be part of M1.

In this number is also included those dinars, 4 trillion that Saleh told us were circulating in Iraq in early 2012. The growth of paper money, dinars, is 5 trillion from early 2012 to early Dec 2013.

Let’s look inside this number. USD is also circulating in Iraq and today most transactions are done in USD. Every dollar sold at auction is bought with 1166 dinars retired of which some are retired.
Retired?  It makes no difference.  IQD at the Iraq Central Bank (the CBI) does not count towards the money supply.  The CBI can print or destroy whatever it wants.  There is no evidence that I have seen that says most transactions are done in USD (some most likely are).  If so where does the 50T or so IQD exchanged at auction each year for the past 10 years (less so earlier of course) come from when M1 is “only” 71T (actually I think the spreadsheet says 75T but close enough).

 In a 5 month period last year the CBI told us they had retired 15 trillion dinar. But money does not just disappear. Some of it changed form from dinars to USD. So as we look at the CBI website numbers we must understand that all paper monies out are shown in dinars even though we know Iraq has been dollarizing.
No we don’t know this.  The CBI auctions off about a bit less than $50B USD a year and that  (plus what the GOI buys with dollars it does not exchange) matches Iraq’s imports

 There is no separate category displaying the number of US dollars so they state every dollar as 1166 in dinars. My dinars and your dinar are not considered circulating dinars and neither is any dinar held in any central bank outside of Iraq.
No.  The CBI’s numbers do not contain any dollar amounts in the Iraqi money supply, its all in Dinars as it IS in Dinars. Nowhere in any of the CBi’s financial statements does it say anything of along the gibberish TLAR is spreading.

 All of these dinars are dinars considered at rest. For our investment we are only interested in circulating dinar because this is the only thing Iraq has to cover to do an RV. Google will explain what reserves are required for and it is circulating dinar, not dinars at rest.
Of course “at rest” is not a financial term and the idea that only some portion of circulating physical currency has to be backed is nonsense.  Pretend that you are an Iraqi that gets paid 1M IQD per month, has saved 1M IQD under your mattress and has 1M IQD in the bank.  The CBI announces that they have raised the rate for the dinar you get paid in and use to buy stuff but not the dinar in your mattress or in the bank.  If you are managing to read this and breathe at the same time you must see TLAR's idea here as monumentally stupid.  Funds flow freely between M0 and M1 let alone just that portion of M0 that is in transactions.

Here is the CBI numbers for 2013: http://www.cbi.iq/documents/Annual_2012.pdf
 I find the spread sheets easier to read, the are in the statistics section at cbi.iq .

 
Here is a supporting article that was just published. As you read this realize it is written by a reporter who has no understanding of economic so he reference the 35 trillion out as if all of it was circulating.
No article was offered in the version of this I have seen, but of course 35T IS the right number for M0, though not M1 or M2.

(Also Ponee?)
I have also factored the value of oil into the (future) value of dinar. I now believe this is false reasoning. The oil is not a factor in the value of the dinar, because oil is traded in dollars, not dinar.

This is how Saudi Arabia has managed to do just fine with the Royal Family living it up with one currency, the dollar, while the currency of the peasants remains dismally low in value, not reflecting the value of their oil reserves. If you remove oil from the equation, there is little else.
Well the Saudis have a strong currency not due to its exchange rate (about 0.25 USD per Riyal), but the fact that they have 3x the reserves needed to back it.  The exchange rate alone is meaningless, just as the money supply alone is meaningless.

I'm not saying Iraq won't grow at a prodigious rate, or that it won't be a great investment, but I no longer believe it will give us the type of returns we have been dreaming of- not unless it really is part of a worldwide currency reset, in which case the US dollar will be the one worth toilet paper.
Of course the GCR is just as big of a myth as the dinar RV, but it doesn’t play a part in this authors fantasy so I’ll leave it.  You might make money investing in Iraqi stocks, though at very high risk.  You could have made money (maybe 50% or a bit more) if you bought IQD in March of 2004, but anyone buying in the last few years from dealers in the $1000 USD per million IQD range is going to lose money.  If Iraq decides to make exchanges from outside the country difficult when the redenominate you might lose it all.

(TLAR)
Oil is a factor in the equation of the value of the dinar. Oil this year is projected to be 93% of their budget. Over the next few years oil will grow from 3.5 million bpd being produced now, to 4.5 by the end of 2014 with the projection between 2017-2020 to be 8 mbpd at which time Iraq will level off to not flood the market.
But didn’t you just say “The oil is not a factor in the value of the dinar”?

 In addition oil will be used as a safety net in valuing the currency. It also can be considered in some part as part of the currency reserves. (ruling IMF when considering if resources can be used for currency backing) Oil is considered a liquid asset under the rules required by international standards because it easily converts to cash quickly. Some agreed upon % by the IMF can be used to back a currency reserve.
No link to an IMF document is offered (and the IMF site shows all its work, its very transparent) of course as this is a lie and the IMF has no power to specify what determines a currencies value anyway.  They are a service organization not some global currency regulator.

Iraq has introduced a new bill in parliament, not read or voted on yet, that provides Iraq ultimately to change from the Petro dollar to requiring all oil purchases to be done in dinars. This is a prelude to what they’re going to do with the currency.
Another lie, but it would not matter anyway.  Now the flow is
oil sales in USD are paid to GOI who exchanges (most) for IQD with the CBI to fund its budget. Banks buy USD at auctions from CBI to service importers who spend it out of Iraq.  If oil is purchased in IQD, it only changes the first part.  Then Oil purchasers exchange USD for IQD with banks down stream from the CBI (they are the only ones that have dinar), then pay the GOI with IQD, the GOI pays out its budget in Iraq, importers get USD from banks (the same USD that the oil purchases exchanged) and buy stuff out of country.  Note that the only difference is that the CBI (that is not a retail bank even for corporations) is out of the picture in this case so its reserves will never go up as it uses a small spread to make money on the dollars that flow through it.  So this will never be done.

Gold is also considered a liquid asset and can also be considered as part of currency reserves. The CBI announced Iraq's gold reserves are now equal to their cash reserves about two months ago.
Gold certainly can be part of currency reserves but Iraq has nowhere near $85B USD worth of Gold (that would be around 2,000 tonnes whle the total mined per year for the entire world is only about 2,500 tonnes).

Iraq is now producing 5 tons of gold a month having hit a major gold producing area just outside of Bagdad. I you watched to you tube interview I sent you above you will know this is right.
The story of gold discoveries in Iraq is yet another pumper myth.  No documentation of this has ever been offered that I have seen.  Five tons is not that much (about $46M at $1300 per metric tonne which is about 35,000 oz ).  So half a billion dollars a year is a nice haul, but it would not go into the CBI reserves even if it existed (which it does not) and is less than 1% of oil revenue so it makes no difference.

Iraq is staging itself to challenge Dubai for controlling the gold markets in the ME. They have so much gold that the CBI contracted with a metals stamping company to make gold coins and the CBI just recently announced that they will be selling gold coins for DINARS only.
The CBI said nothing about using gold mined in Iraq (which would not be owned by the CBI anyway) to make coins, they are just looking (or maybe even planning) to buy gold and mint some coins.  Even if this is true, it changes little.  It might help remove dollars, but maybe not.  In any case the IQD that come in will be exactly matched by the reduction in reserves so the ratio of reserves to the money supply is unchanged and it is that ratio that constrains the exchange rate for a pegged currency like the IQD.

 This will serve two purposes. One it will continue to suck up what dinars are left "circulating" and this move will create a NEW necessary tool to support the dinar and inflation for the CBI whose ultimate goal is to stop the auction this year.
Stop the auctions?  Then no importers can get dollars to buy stuff in foreign markets so the auctions will never stop.   Any sort of exchange dollars for dinars or even gold for dinars keeps the reserves to the money supply ratio the same, and that is the limit for the exchange rate.  So this has no impact on the exchange rate.

Remember a bank only must cover the currency that is considered circulating which means it does not have to cover dinar outside of Iraq held by investors and held by central banks, nor does it have to cover numbers of dinar that is held electronically in banks in Iraq, just the cash circulating.
Again our poor author is overcome with a wave of stupidity.  There is no possibility of distinguishing one pile of physical or electronic dinar from another.  As far as the exchange rate is concerned its all the same.  The CBI has to cover it all NOT due to fears that all of it will be exchanged, but to prevent that from happening.  If they were to announce a new rate, but that it only applied to physical currency (the idea that it only applies to some part of physical currency is just to ridiculous to consider) then there will of course be a massive run on banks to convert everything to cash and the CBI would be insolvent in minutes.

 If you Google currency reserve requirements as I have done then you will see what reserves are required to back a currency.  If you check the CBI website you will see the total dinars out by Dec 2013 and that number is 35 trillion.
The 35T figure is for M0.  Iraq backs M2, which is 85T IQD.  If that part of M2 that is not on-demand deposits (CDs for example) is exotic enough with large enough early withdrawal penalties a central bank can get away with only backing M1 and part of M2 (as Kuwait does) but for Iraq it isn’t that complex and even M1 is 75T. 

The question is how much of that is circulating and how much of that is considered at rest. Again as a beginning reference Saleh told us in early 2012 that Iraq had 4 trillion dinars circulating in Iraq out of a total at that time 30 trillion that were "out" of the CBI. About July of 2012 the CBI became a net seller of physical dollars retiring physical circulating dinars.
Just crack pipe delusions.  A dinar is a dinar is a dinar whether used in a transaction or in the cookie jar or in your checking account.

As I referenced above, last year the CBI admitted to having retired 15 trillion dinars. But again some were retired by being replaced by USD which on the CBI's website is listed as part of the 35 trillion dinars out but in dinar equivalency.
Again M0, M1, and M2 are all in dinars as they are dinars.

They have continued with the auctions through today selling exclusively dollars for dinars (check CBI website, section auctions). Dollar sales have gone from a high of 350 million USD sold at auction in one day and averaging in the 100's of millions every day at the end of 2012, running through most of 2013.

Today the auctions are averaging from a low of 16 million to as hig as 66 million per day. The trend though continues down indicating there are less and less dinars in Iraq. Iraq has been dollarizing beginning at the end of 2012 retiring dinars. Iraq today is operating mostly on dollars. What does all this mean?
I don’t know what “this” means as its mostly gibberish.  Today (Feb 14th, 2014) the auction was for 126M USD. There is no evidence that they are getting smaller and as Iraq’s economy grows they are very likely to get bigger.

The CBI has 90 billion in cash in currency reserves, not the 80 billion you mention above. They published that they had 89 billion in currency reserves a few months ago and by now they have to have increased some. So the 90 billion may be an understatment.
The numbers say $85B actually, and they don’t grow that fast.  The number does fluctuate as the money flowing USD -> IQD from the GOI exchanging oil revenues does not always match month to month the IQD -> USD going out via the auctions.

The CBI stated two months ago that their gold holdings were equal to their cash reserves. Months ago the CBI announced that frozen funds were being released to Iraq of approx. 82 billion and that money when released would be part of the reserves.
Then such a statement should be easy to find at cib.iq, but of course its not there, as this is just another lie.  I don’t know who this TLAR person is, but they are not well acquainted with the truth.  The final DFI statement was released in 2011 and it shows only 7.5B USD remaining in the account.  All the rest as been paid out. http://www.iraq-businessnews.com/wp-content/uploads/2011/07/IAMB-Final_Report_revised_2011__English_re-DFI.pdf

I think what the CBI recently did in Jan 2014 with these released funds as money deposited with the BIS for reasons to lengthy to explain here. What was published in the news in Dec 2013 was that the BIS (The Bank of International Settlements) would accept dinars on deposit with their bank starting in January of this year.
The BIS does transactions with central banks all the time, but not very big ones.  About 4% of central bank reserves are managed by the BIS according to their intro doc on bis.org .

Then an article from the CBI stating that the monies received from frozen funds would be converted to dinars as they are deposited with BIS. I took this to mean any currency be it Euro's, dollars, yen etc. that were released, would be converted by BIS to dinars at the request of the CBI.
How could the BIS convert anything to dinars for the CBI, only the CBI has dinars unless they deposit them with the BIS.

The BIS is the bank serving Central banks around the world which converts currencies for those central banks in world trade. (Google BIS for better understanding) The fact that BIS has account in dinars tells me it is in preparation to use dinars in world trade.
If only TLAR would follow their own advice and use Google.  While the BIS can provide exchange for central banks this is not for world trade, which is done through the various global currency trading exchanges (e.g. the FOREX) at major banks.

The only way this will happen is if the currency is international. The question must be asked, why would BIS open an account in dinars, a non tradable/non convertible IMF Article XIV exotic currency?
Transactions with the BIS are nothing new and if the IQD were internationally traded any banks could engage in such and exchange.  The whole point of exchange via the BIS for central banks is to help conduct business when other channels do not exist.  International currency trade only exists where there is international trade in that currency and that will not exist for Iraq for a very long time, even if they were to require oil payments in IQD, which of course they will not.  The whole notion of “internationally tradable” is just another pumper myth.  The IQD is not traded on international exchanges as no one wants IQD as there is nothing to by in IQD.

 The short answer is they must know something about the dinar that has not yet been publically announced. The dinar will be convertible soon.
Oh and here I was hoping for a hardtop.  Oh well.

Let's now go back and see what this means. The CBI has approximately 90 billion in cash reserves. They have about 90 billion in gold. They have approximately 82 billion that has been or very shortly will be completed in released funds because they no longer are on Chapter VII sanctions.
Only if you are smoking crack since those numbers are nonsense.  The CBI has $85B in reserves, that about it.  Maybe another $1.5B in gold. 

 Adding these up, the CBI has at its disposal as potential 250 billion dollars to cover what. Saleh told us 4 trillion dinars in early 2012. That number has to have been reduced by now due to continued dollarization of Iraq. But let's assume it is 4 trillion dinars still out.
Except of course its $85B in reserves needed to cover 85T in IQD so they could boost the rate by about 15%, but that’s it.

That is the equivalent of about 2,5 billion USD round about. Consider this, today the CBI has 250 billion USD value today to back its circulating currency or there about. The currency they are backing is about 2.5 billion in USD value.
Well actually 4T IQD is about 3.5 billion USD but the numbers are nonsense to start with so why quibble about TLAR’s arithmetic impairment.

No matter how you cut even using the 4 trillion number circulating number told to us by Saleh in 2012 when we know they have and are continuing to dollarize, the CBI has approximately 100 USD to back each USD equivalent dollar circulating in Iraq.
Just step back from the crack pipe.  Repeating made up numbers over and over does not make them real.

That's a unheard of number for any central bank. Why? I will answer this question as I think it is. The CBI is building a massive reserve (number 12 if I remember correctly, in the world of currency reserves held by any country) as it prepairs to delete the zeros. From .00086 to .86.
Actually 27th in the world, which is not bad.  http://data.worldbank.org/indicator/FI.RES.TOTL.CD?cid=DEC_SS_WBGDataEmail_EXT

Are they there yet? I believe the CBI answered that question when they met with the EC and FC in Dec 2013, holding confidential meetings with each of these groups, to announce their plan to delete the zeros and introduce the new currency in January.
Deleting the zeros and a new currency of course refer to a redenomination.

This information was leaked to the press by a loose lipped member of the FC within a day of these what were suppose to be confidential meetings. What issued when the press announced they had been told of the CBI plan was a run on the banks with Iraqi's asking to close their accounts and wanting to be paid in dinars.

From Basra to Bagdad to Kurdistan, there was a run on the banks. Immediately the CBI had to stop this run, or run the risk of a banking disaster. The day after the release in the press, the CBI began a campaign of denial which lasted the rest of Dec and well into January.

A total of three weeks of an article a day making denials and acusations. They announced they were not going to delete the zeros in January followed immediately be the FC and the EC and the COM all chiming in, all denying that article. As late as the middle of January, Kurdistan still had people trying to close their accounts converting to cash dinars. Iraqi's aren't stupid.
Right because when the mythical RV hits only physical dinars will be worth more and your checking account will not increase in value.  I’m sure the Iraqi’s will be fine with that, and its not like there are lots of guns and explosives around for them to vent their anger of getting screwed while westerner’s get rich… oh wait, make that instant civil war.

For years now the CBI has been educating them on the deletion of the zeros and how it will affect them. The CBI even hired Dr. Bakri to hold seminars and tour universities to explain this project to the people.

Iraqi's know that the project will adjust everything in Iraq including loans, contracts etc. and yes it will also adjust their electronic bank accounts meaning, if they have 25,000 dinars in the bank today, they will have 25 dinars tomorrow but the value will not have changed. A physical dinar will not change.
No actually nothing is adjusted, except which currency is used to express amounts.  A contract in IQD remains the same.  A new contract in IQI (what the new currency code might be) will be 1000x less than what it would have been in IQD since IQI will have a 1000x higher exchange rate.  The GOI has no authority to rewrite contracts, which of course is why both currencies will exist side by side for a time.

A dinar is a dinar being their national currency. What will change for those holding the currency in Iraq and you and I is the exchange rate. Dr. Bakri said it best and I will paraphrase his teaching, “a coke that cost a thousand dinars today will cost 1 dinar after this change”. He followed that with this statement.
The “exchange” is to introduce a NEW currency.  So indeed 1000 IQD is equal to 1 IQI.  This has been done 50 or more times in various countries in the last few decades as anyone with Google access can easily verify.  It’s the standard way to shrink the money supply after a long period of hyperinflation.  The value of the old currency remains unchanged and a new currency with fewer zeros on each note is issued and that new currency, and only that new currency, gets a new exchange rate.

Those thousand dinars you paid for that coke yesterday, if used the day after the change will buy 1000 cokes. Contracts, budgets, loans, the prices on all items they buy, and all electronic numbers in bank accounts on all sides of the accounting sheets, will all be adjusted all at once to reflect the new reality and exchange rate.
More bald faced lies.  Can you imagine the chaos if the 1M IQD you used to buy say a used car (worth about $860 USD) yesterday is now worth 1000 times as much, but the car you have now will only fetch 1,000 IQD?  Again this would be instant war with those buying before the RV wanting their money back.  Its insane.

Everything in Iraq will be adjusted all at once with one exception, the physical currency itself. The CBI announced that the new dinar and the old dinar will both be circulating in Iraq for two years after the change.
No nothing changes except the currency in which amounts are expressed.  “Old dinar” and “new dinar” is correct, two different currencies.  Just like in all the other redenominations that the articles about the “delete the zeros” have all mentioned.

The CBI told us numerous times what will change is the nominal value which is defined as the exchange rate. The FC told us that they will delete the LEADING zeros. LEADING zeros are not found on the currency, they are only found on the exchange rate.
“Deleting the zeros” has been explained thousands of times as a redenomination, so new currency with denominations 1000 times less and an exchange rate (for the new currency only) 1000 times more.   One machine-translated article has “leading” in it, and TLAR and his pumpermates all go nuts claiming that must be correct mean that Iraq will make them instant millionaires.

The FC in three articles told us they wrote the 2014, and estimated the 2015 and 2016 budgets based on 1.16 dinars equal one US Dollar. Doing the math that's 86 cents per each dinar or deleting the zeros.
Yes .86 for the NEW dinar, not the current IQD.  

If this is truth then they can't open the 2014 budget without changing the value of a dinar to 86 cents.
Sure they can as its only the NEW dianr that is .86 USD and IQD and IQI will be easily exchanged (the whole point of course is to let the new ones replace the old ones over a year or two).

For instance, a budgeted program or project that is earmarked to get 1 million dinars at 1.16, value is earmarked to receive 860,000 USD equivalence in dinars.
And with 75T IQD in M1 that would make Iraq’s money supply worth $65T USD while the entire rest of the world combined has an M1 of only about $50T.

If the currency is still at 1166 per dollar, that project will still get the same1 million dinars, but the USD equivalency would be 860 dollars instead of the budgeted 860,000 USD. They can't open the budget written at 1.16, if the currency is at 1166. The currency must match the budget.
A 150T IQD budget or a 150B IQI budget makes no difference.  Each currency has its own exchange rate and the two rates are in a ration of 1000:1 .

 This why I've been saying for 2 months watch the budget. I think it is the key to our investment. If the budget is written at 1.16 as told to us by the guys who wrote the budget, I believe we will see a .86 dinar, or the budget cannot be opened when it is passed. I hope this helps.
It might be helpful in proceedings to have TLAR committed to a mental health facility, but in aiding anyone’s understanding of Iraq’s currency, not so much.

The RV of the IQD is a myth created to make money for dealers and those selling the idea of the RV.  If you own Iraqi Dianrs, the faster you unload them the less money you will lose.


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So put that in your pipe and smoke it, TLAR!
 
-Sam I Am